Asset servicing technology news | UK business leaders not prioritising cybersecurity – Asset Servicing Times

25 August 2022
UK
Reporter Lucy Carter
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The Department for Digital, Culture, Media, and Sport (DCMS) has reported that UK business leaders are not sufficiently prioritising cybersecurity.

The survey interviewed cybersecurity and IT professionals and affected employees from ten organisations who have suffered cyber breaches in the past four years. Half of interviewees responded that senior leaders did not recognise cybersecurity threats until their businesses had been targeted.

Ralph Chammah, CEO of cybersecurity software and advisory firm OwlGaze, comments: “While technology advancements have enabled major improvements among organisations, we also need to understand that these same advancements have also enabled cyber criminals to develop new tactics, techniques, and procedures to create and launch increasingly complex attacks.

“To counter these threats, businesses need to be on the front foot and adopt the right proactive threat detection mindset and software.”

He adds: “Conflicted by profitability targets and restrained by the inherent limitations within their software offerings, legacy SIEM vendors are incapable of fulfilling the security requirements of digitally evolving and data-driven organisations looking for early detection, containment, and eradication of emergent cyber adversaries. Businesses that are adopting the latest proactive threat detection software technologies can identify complex cyber-attacks before they adversely impact either business continuity or the bottom-line.”

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